Yeah, I'm "that guy" at work who is known for reading almost obsessively about earlier than normal retirement. Since DW and I were married at 23 yrs old, while making $4.83 an hour out of college, I had been socking 15% into a 401K at work. Have kept this rate of investing up in every job since, even while raising three children (Lord, how did we do that).
How I got to be "that guy" was when my DW and I agreed on a plan to get rid of our debt (house debt not included YET ), so we could begin enjoying our mid-life by saving to spend on stuff/travel/house projects that we didn't do while in debt and raising three children. My co-workers got to hear about it and hear about it and hear about it; figured out not everyone wanted to hear. Luckily, I had another co-worker who was attempting to do the same thing, along with a few others that were interested in investing. So I was able to talk shop with them and have a cheerleader squad to help motivate me.
Most of the people I work with have little to no clue about their Federal retirement, they just understand the concept of TSP and that there is some kind of match. I've taken a road less traveled and decided to obese on my retirement instead of letting the bureaucracy get to me and focus on the future for my family. Now in the last year or two, lots of my co-workers are within 2 years of retirement and are having to ask questions as to were to find information or what information they should be looking for (MRA and years of service folks). I'm "that guy", if they cannot find it, they know I will have an idea and be able to point them in the right direction as to where or who they might ask. I'm also "that guy" that keeps chatting up retirees' after they leave to find out their experiences, downfalls, and up-swings about retirement. "Good decisions come from experience. Experience comes from making bad decisions." Figure why not learn from their "wisdom" and "experience".
I think I can pull this off.
Age: 48 (DW 45), 3 grown-up DD
ETA Retirement: 58.5 (55)
Life Expectancy: 83 yrs old
Range of Incomes: $35,000 to $85,000; current $74K
Current Net Worth imoldernu style: $670,000
Future Income:
TSP/Roth TSP/IRAs: $510,000 (5% Cash, 95% in major index funds) and get a 5% matching for TSP.
Yearly Income: $74,000 (gross) $48,000 (net)
Actual Living Expenses: $38,000
Mortgage: $38,000 (10 yrs)
How I got to be "that guy" was when my DW and I agreed on a plan to get rid of our debt (house debt not included YET ), so we could begin enjoying our mid-life by saving to spend on stuff/travel/house projects that we didn't do while in debt and raising three children. My co-workers got to hear about it and hear about it and hear about it; figured out not everyone wanted to hear. Luckily, I had another co-worker who was attempting to do the same thing, along with a few others that were interested in investing. So I was able to talk shop with them and have a cheerleader squad to help motivate me.
Most of the people I work with have little to no clue about their Federal retirement, they just understand the concept of TSP and that there is some kind of match. I've taken a road less traveled and decided to obese on my retirement instead of letting the bureaucracy get to me and focus on the future for my family. Now in the last year or two, lots of my co-workers are within 2 years of retirement and are having to ask questions as to were to find information or what information they should be looking for (MRA and years of service folks). I'm "that guy", if they cannot find it, they know I will have an idea and be able to point them in the right direction as to where or who they might ask. I'm also "that guy" that keeps chatting up retirees' after they leave to find out their experiences, downfalls, and up-swings about retirement. "Good decisions come from experience. Experience comes from making bad decisions." Figure why not learn from their "wisdom" and "experience".
I think I can pull this off.
Age: 48 (DW 45), 3 grown-up DD
ETA Retirement: 58.5 (55)
Life Expectancy: 83 yrs old
Range of Incomes: $35,000 to $85,000; current $74K
Current Net Worth imoldernu style: $670,000
Future Income:
Soc Sec Suppliment (58 to 61 yr 11 months): $23,800
Pension: $20,300
Future Soc Sec @ 62 yrs: $30,700+$15,350 for DW in three years after myself
TSP/Roth TSP/IRAs: $510,000 (5% Cash, 95% in major index funds) and get a 5% matching for TSP.
Expected ROI over lifetime: 8% (5-6% during retirement)
Yearly Income: $74,000 (gross) $48,000 (net)
Actual Living Expenses: $38,000
Mortgage: $38,000 (10 yrs)
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